Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Monday, supported by healthy overseas demand for Malaysian palm oil.

According to BERNAMA News Agency, Iceberg X Sdn Bhd proprietary trader David Ng noted that traders interpret the strong export numbers as a sign of stronger demand for the commodity. He mentioned that despite the positive momentum, gains were limited by increasing production and stock levels in Malaysia. The Malaysian Palm Oil Board (MPOB) reported a 3.3 percent increase in palm oil stocks, reaching 2.6 million tonnes.

'We see prices supported above RM4,680 per tonne and resistance at RM4,800 per tonne,' Ng told Bernama. At the market close, the August 2026 contract rose by RM18 to RM4,545 per tonne, while the September 2026 contract increased by RM25 to RM4,631 per tonne. The October 2026 contract saw a gain of RM46, ending at RM4,723 per tonne.

Additionally, the November 2026 contract advanced by RM55 to RM4,790 per tonne, December 2026 climbed RM51 to RM4,836 per tonne, and January 2027 added RM43 to reach RM4,872 per tonne. Despite the price increases, the trading volume decreased to 97,133 lots from 112,427 lots last Friday, with open interest slipping to 313,462 contracts from 314,839 contracts previously.

In the physical market, the CPO price for August South increased by RM20, settling at RM4,560 per tonne.